Apple net worth – 624 Billion bucks!
Apple Inc. is an American international corporation headquartered in California. This company develops, designs and sells various consumer electronics, personal computers and computer software. Its most noticeable products include iPhone Smartphone, iPod player, iPad computer, iOS and OS X operating systems, Safari and iTunes browsers, iLife and iWork production suites. As for the summer 2012 Apple net worth was estimated at $624 billion, making it the most valuable company in the world. Before Apple there were only four companies worth over $500 billion (ExxonMobil, Microsoft, Cosco and general Electric), and none of them are valued above this point now. According to various polls Apple was the most admired company in the world from 2008 to 2012.
Steve Jobs, Ronald Wayne and Steve Wozniak established the company in 1976. The first product of the company was a computer kit Apple I, hand-built by S. Wozniak. Its market price adjusted for the inflation today would be a little over $2.7 thousand. Apple was incorporated in 1977, with a significant funding of a millionaire Mike Markkula. By that time Wayne has already sold his share of the company to Wozniak and Jobs for a mere $800. Knowing that Apple net worth is currently estimated over $500 billion, one could say that this was the stupidest decision he has ever made. In the late 1980 Apple went public selling one share for $22 dollars and soon generated more capital than any other IPO for the last 24 years.
In 1982 the race began within the Apple. After Jobs was kicked out of the team working on computer Apple Lisa, he overtook the Macintosh project. The race was won by Lisa team in 1983 and soon Apple Lisa appeared in the electronics stores. However, the fester was not the better and the computer became a financial failure due to its huge price and limited applicability. Steve’s masterpiece Macintosh was launched the following year and became an instant financial success. According to some, the release of this computer in 1984 was a watershed event, after which Apple net worth shot to the stars.
This is not exactly true, as Apple sales suffered a considerable decline during the period 1986-1997. It returned to profitability in 1998, with the release of iMac. However, iMac’s success was very modest compared to the worldwide enthusiasm that followed the release of iPod Touch, iPad and iPhone products. Ten years back Apple net worth was estimated at $10 billion. In 2008, despite the speculations in the media that sales of Apple could be seriously damaged by worsening Steve Jobs health problems, the company announced about the quarter revenue of $8.16 billion.
The company’s revenues and profits shot even higher in 2010, after the media device iPad reached the stores. In recent years Apple’s value exceeded Microsoft’s, it currently holds the record as the world’s most valuable company.